The Trump administration said on Friday that it projects federal deficits will be cut by half over the next 10 years, attributing the reductions to a sweeping package of spending cuts, new trade tariffs, and regulatory rollbacks.

In its upcoming fiscal year 2026 Mid-Session Review, obtained by Fox News Digital, the Office of Management and Budget (OMB) estimates that the government will accumulate $15.7 trillion in cumulative deficits between 2026 and 2035 — down from earlier forecasts of $31.5 trillion.

In other words, President Donald Trump's budget officials are anticipating a 50% reduction in the nation's deficit over the next decade.

A senior administration official, who spoke on the condition of anonymity, told Fox News Digital that Trump's "pro-growth tax reform, fair and recip

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